Shortput
Opened (IRA): SPY Nov 18th 320/Dec 16th 300/Jan 20th 280... short put ladder.
Comments: (Late Post). Added another tranche of rungs in November, December, and January monthlies in Friday's weakness with the November 18th 320 paying 3.23, the December 300 paying 3.05, and the January 280 paying 2.96.
Looking to primarily do housekeeping (closing out rungs at 50% max; rolling rungs) running into year's end in the absence of a new 52-week low.
Opening (Margin): /GC November 22nd 1380 Short Put*... for a 1.40 credit.
Comments: A pure directional shot at 52-week lows with plenty of room to be wrong. 1.40 credit on buying power effect of 10.04; 13.9% ROC at max as a function of buying power effect; 7.0% at 50% max.
* -- An out-of-the-money short put is neutral to bullish assumption, with max profit being realized on a finish at or above the short put strike.
Rolled (IRA): QQQ September 30th 289 to November 18th 278... for a 2.75 credit.
Comments: (Late Post). Rolled this out on Friday to be out of September contracts and to reduce risk, cost basis, and buying power effect. Opened this for a 2.95 credit. Credits collect of 2.95 (See Post Below) plus the 2.75 here for a total of 5.70.
Rolled (IRA): IWM September 30th 178 to November 18th 173... for a 2.02 credit.
Comments: (Late Post). Rolled this out late on Friday so that I can be out of September contracts, as well as reduce buying power effect and cost basis.
Credits collected of 1.80 (See Post Below) plus 2.02 for a total of 3.82.
Opening (Margin): /ES October 31st 2700 Short Put... for a 3.10 credit.
Comments: Adding a smidge more to my ladder on weakness. Targeting the <75% of current price strike nearest 45 days until expiry paying around 3.00 in credit. 1.55 max on buying power effect of 14.49; 10.7% ROC at max; 5.3% at 50% max as a function of buying power effect. As before, I'll look to take off the most at-risk strikes first at the earliest possible juncture and allow the remainder to ride.
Opening (Margin): /ES January 20th 1800 Short Put... for a 3.05 credit.
Comments: A little bit long-dated for some, but putting this on while I'm waiting on other stuff to "ripen." Targeting the <75% of current price strike paying around 3.00 in credit. A basic bet that we don't see 1800 by January or that the option reaches 50% max before then.
Opening (Margin): /ES December 16th 2100 Short Put... for a 3.40 credit.
Comments: Targeting the <75% of current price strike paying around 3.00 in credit. 3.40 on buying power effect of 13.19; 25.8% ROC as a function of buying power effect at max; 12.9% at 50% max. I would have used November, but have short puts at the 2300 and 2400 strikes already (which is where I would've wanted to camp out).
A basic bet that we don't see anywhere near 2100 by December mopex and/or that the option reaches 50% max way before then.